NASDAQ$SSBK
Southern States Bancshares · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Southern States Bancshares, Inc. reported net income for Q2 2023.
Southern States Bancshares, Inc. reported a strong second quarter in 2023, with net income of $8.8 million, or $0.98 per diluted share. The company experienced growth in total loans and deposits, while maintaining excellent credit quality. However, the net interest margin decreased due to rising funding costs.
- Net income was $8.8 million, or $0.98 per diluted share.
- Net interest income was $19.4 million, a slight decrease from the prior quarter.
- Linked-quarter loan growth was 17.4% annualized.
- Linked-quarter total deposit growth was 30.1% annualized.
Headline financials
Revenue & EPS history
Southern States · Revenue · Quarterly
$26.3M
Revenue by segment
Southern States · $2.22M total across 5 segments · Q3 2023
- Other operating income$1.09M—49.2%
- Swap (expenses) fees$453K—20.4%
- Service charges on deposit accounts$442K—19.9%
- Mortgage origination fees$158K—7.1%
- SBA/USDA fees$74K—3.3%
Forward guidance
Southern States Bancshares is well-positioned to cultivate new business through superior customer service, giving the company confidence in their ability to deliver long-term value for shareholders.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 5 quarterly earnings reports
+1.7%
Avg return
Earnings day
+2.2%
Avg return
5 days after
+4.8%
Avg return
30 days after
75%
15 / 20 earnings
Positive
+10.0%
Q2 2024
Best reaction
-4.0%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2025 | +3.0% | +1.8% | +1.9% | |
| Q4 2025 | -1.6% | -4.0% | -4.7% | |
| Q3 2024 | -0.7% | -0.7% | +15.0% | |
| Q2 2024 | +10.0% | +12.3% | +0.1% | |
| Q1 2024 | +2.3% | +1.7% | +11.7% | |
| Q4 2023 | -0.2% | — | — | |
| Q3 2023 | +1.4% | — | — | |
| Q2 2023 | +7.3% | — | — | |
| Q1 2023 | -4.0% | — | — | |
| Q4 2022 | +0.9% | — | — | |
| Q3 2022 | +2.3% | — | — | |
| Q2 2022 | -0.5% | — | — | |
| Q1 2021 | +3.6% | — | — | |
| Q1 2022 | +0.2% | — | — | |
| Q4 2020 | +2.1% | — | — | |
| Q4 2021 | +0.6% | — | — | |
| Q3 2020 | +0.5% | — | — | |
| Q3 2021 | +2.0% | — | — | |
| Q2 2020 | +1.8% | — | — | |
| Q2 2021 | +1.8% | — | — | |
| Q1 2020 | — | — | — |
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